Wheat Gaining Double Digits
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 ZWPAES.CM - cmdty Eastern Region Soft Red Winter Wheat Price Idx

Domestic wheat futures are rallying alongside corn with double digit gains through midday. Spring wheat is the strongest so far with gains of at least 15 cents. CBT futures are 12 3/4 to 13 1/4 cents in the black. KC HRW futures are up 14 1/4 to 15 cents

Old crop wheat bookings from the weekly Export Sales data release were 81,969 MT during the week ending 4/1. That was down 68% on the week, and below the range of pre-report estimates. HRW bookings made up the largest share of the week’s light old crop sales, with 42% of the total. New crop sales were 529,850 MT for the week, with white wheat as the largest portion.

Japan purchased 90,815 MT of U.S. and Canadian wheat in their weekly MOA tender. Taiwan also purchased 96,645 MT of U.S. wheat.

Cash SRW Wheat  is at $6.01 5/7, up 13 1/4 cents,

May 21 CBOT Wheat  is at $6.29 1/2, up 13 1/4 cents,

Jul 21 CBOT Wheat  is at $6.29 3/4, up 13 3/4 cents,

Cash HRW Wheat  is at $5.45 1/1, up 14 3/4 cents,

May 21 KCBT Wheat  is at $5.78, up 14 3/4 cents,

Jul 21 KCBT Wheat  is at $5.85 1/2, up 15 1/2 cents,

May 21 MGEX Wheat  is at $6.42, up 17 1/2 cents,

Market Commentary provided by:

Brugler Marketing & Management LLC
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